CARDIO LOGIC: what changed
Two financial years side by side, explained: what moved most in the balance sheet and the result, why the result rose or fell, and where the money went.
CARDIO LOGIC
Largest movements
- Receivables within one year +€425,674
up €425,674 (+406.2%), from €104,790 to €530,464
of which Other amounts receivable: +€372,681
- Tangible fixed assets -€110,351
down €110,351 (-10.1%), from €1.1m to €980,206
of which Plant, machinery and equipment: -€90,824
- Deferred charges and accrued income +€19,285
up €19,285 (+59.5%), from €32,400 to €51,685
- Cash -€17,485
down €17,485 (-16.3%), from €107,072 to €89,587
mainly Receivables within one year (-€425,674) and Deferred charges and accrued income (-€19,285)
- Profit (loss) carried forward +€185,884
up €185,884, from -€14,631 to €171,253
- Trade debts +€105,146
up €105,146 (+160.4%), from €65,555 to €170,701
- Tax, wage and social debts +€31,153
up €31,153 (+78.7%), from €39,585 to €70,738
of which Taxes: +€30,444
- Debts after one year -€17,154
down €17,154 (-1.9%), from €882,214 to €865,060
- Gross operating margin +€170,627
up €170,627 (+70.3%), from €242,576 to €413,203
- Taxes +€43,422
up €43,422 (+171.2%), from €25,370 to €68,792
- Depreciation -€16,700
down €16,700 (-12.7%), from €131,101 to €114,401
- Financial charges +€13,375
up €13,375 (+84.1%), from €15,907 to €29,281
From the 2023 result to the 2024 result
Each bar is the change in one income-statement line, as its effect on the result: higher costs pull it down, higher income lifts it.
Cash bridge derived
Derived from the 2023 and 2024 balance sheets and the 2024 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2023 | 2024 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €1,352,939 | €1,653,603 | +€300,664 | +22.2% |
| Fixed assets | 21/28 | €1,108,677 | €981,867 | -€126,810 | -11.4% |
| Intangible fixed assets | 21 | €16,458 | - | -€16,458 | |
| Tangible fixed assets | 22/27 | €1,090,558 | €980,206 | -€110,351 | -10.1% |
| Land and buildings | 22 | €473,586 | €445,015 | -€28,572 | -6.0% |
| Plant, machinery and equipment | 23 | €582,707 | €491,882 | -€90,824 | -15.6% |
| Furniture and vehicles | 24 | €34,265 | €43,309 | +€9,044 | +26.4% |
| Financial fixed assets | 28 | €1,661 | €1,661 | = | 0.0% |
| Current assets | 29/58 | €244,262 | €671,736 | +€427,474 | +175.0% |
| Amounts receivable within one year | 40/41 | €104,790 | €530,464 | +€425,674 | +406.2% |
| Trade receivables | 40 | €102,707 | €155,700 | +€52,993 | +51.6% |
| Other amounts receivable | 41 | €2,083 | €374,764 | +€372,681 | +17888.9% |
| Cash at bank and in hand | 54/58 | €107,072 | €89,587 | -€17,485 | -16.3% |
| Deferred charges and accrued income | 490/1 | €32,400 | €51,685 | +€19,285 | +59.5% |
| Total equity and liabilities | 10/49 | €1,352,939 | €1,653,603 | +€300,664 | +22.2% |
| Equity | 10/15 | €120,121 | €306,005 | +€185,884 | +154.7% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Capital | 10 | €18,600 | - | -€18,600 | |
| Issued capital | 100 | €18,600 | - | -€18,600 | |
| Reserves | 13 | €116,152 | €116,152 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | - | -€1,860 | |
| Legal reserve | 130 | €1,860 | - | -€1,860 | |
| Tax-exempt reserves | 132 | €26,292 | €26,292 | = | 0.0% |
| Distributable reserves | 133 | €88,000 | €89,860 | +€1,860 | +2.1% |
| Profit (loss) carried forward | 14 | -€14,631 | €171,253 | +€185,884 | |
| Amounts payable | 17/49 | €1,232,818 | €1,347,598 | +€114,780 | +9.3% |
| Amounts payable after more than one year | 17 | €882,214 | €865,060 | -€17,154 | -1.9% |
| Financial debts | 170/4 | €882,214 | €865,060 | -€17,154 | -1.9% |
| Amounts payable within one year | 42/48 | €350,604 | €482,172 | +€131,567 | +37.5% |
| Current portion of amounts payable after more than one year | 42 | €83,523 | €82,733 | -€790 | -0.9% |
| Trade debts | 44 | €65,555 | €170,701 | +€105,146 | +160.4% |
| Suppliers | 440/4 | €65,555 | €170,701 | +€105,146 | +160.4% |
| Taxes, remuneration and social security | 45 | €39,585 | €70,738 | +€31,153 | +78.7% |
| Taxes | 450/3 | €39,585 | €70,029 | +€30,444 | +76.9% |
| Remuneration and social security | 454/9 | - | €708 | +€708 | |
| Other amounts payable | 47/48 | €161,941 | €158,000 | -€3,941 | -2.4% |
| Accrued charges and deferred income | 492/3 | - | €367 | +€367 | |
| Remuneration, social security and pensions | 62 | €14,743 | €14,269 | -€474 | -3.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €131,101 | €114,401 | -€16,700 | -12.7% |
| Other operating charges | 640/8 | €3,707 | €2,795 | -€912 | -24.6% |
| Gross operating margin | 9900 | €242,576 | €413,203 | +€170,627 | +70.3% |
| Operating profit (loss) | 9901 | €93,026 | €281,738 | +€188,712 | +202.9% |
| Financial income | 75/76B | €5,912 | €2,219 | -€3,693 | -62.5% |
| Recurring financial income | 75 | €5,912 | €2,219 | -€3,693 | -62.5% |
| Financial charges | 65/66B | €15,907 | €29,281 | +€13,375 | +84.1% |
| Recurring financial charges | 65 | €15,907 | €29,281 | +€13,375 | +84.1% |
| Profit (loss) for the period before taxes | 9903 | €83,031 | €254,676 | +€171,645 | +206.7% |
| Income taxes | 67/77 | €25,370 | €68,792 | +€43,422 | +171.2% |
| Profit (loss) for the period | 9904 | €57,661 | €185,884 | +€128,223 | +222.4% |
| Profit (loss) for the period to be appropriated | 9905 | €57,661 | €185,884 | +€128,223 | +222.4% |
Source: filed annual accounts (NBB), financial years ended 31 December 2023 and 31 December 2024. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 9 October 2026 via checked.be.